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Darrell W. Pierce

Darrell W. Pierce

Senior Counsel


  • Asset Purchases
  • Agribusiness Lending
  • Agriculture
  • Bankruptcy, Insolvency & Creditors' Rights

WSG Practice Industries


Michigan, U.S.A.

WSG Leadership

ABA Group
Banking & Finance Group

Darrell W. Pierce focuses his practice in the areas of commercial and corporate finance law. He has earned a national reputation for handling sophisticated debt finance transactions, including structured finance transactions, securitization of financial assets and other significant secured transactions under Article 9 of the Uniform Commercial Code (UCC), including restructurings and workouts.

Mr. Pierce regularly represents lenders and their agents in connection with secured and unsecured loans, letters of credit and other bank products. He is familiar with the requirements for security interests in a wide variety of collateral, including collateral located abroad, and has extensive experience representing lenders and borrowers in connection with troubled credits. He works closely with Dykema bankruptcy attorneys to ensure a smooth transition and an appropriate outcome should a bankruptcy become necessary. He also represents leasing companies and issuers in public-finance transactions.

This experience enables Mr. Pierce to provide effective and efficient representation to issuers of debt and other sophisticated borrowers. As the leader of Dykema’s Structured Finance and Securitization practice, he is able to provide the requisite advice and legal opinions to limit recourse, address bankruptcy risks and support the issuance of asset-backed securities.

Mr. Pierce served as member of the Article 9 Study Committee for the Permanent Editorial Board for the Uniform Commercial Code, as Chair of the Article 9 Filing Project and as the primary drafter of the International Association of Commercial Administrators’ Model Administrative Rules for Article 9 filing offices. He is a frequent lecturer and writer regarding UCC matters.

Bar Admissions

Michigan, 2004


  • University of Michigan, J.D., cum laude
  • Dartmouth College, A.B., cum laude
Areas of Practice

Agribusiness Lending | Agriculture | Asset Purchases | Bankruptcy, Insolvency & Creditors' Rights | Business Services | Commercial Lending | Consumer Financial Services | Corporate & Real Estate Transactions | Corporate Finance | Debt Finance | Energy Lending Transactions | In- and Out-of-Court Restructurings & Liquidations | Infrastructure & Project Finance | International Law & Trade Regulation | Investment Management | Mergers & Acquisitions | Public Finance | Structured Finance

Professional Career

Significant Accomplishments

- Wabash National Corporation: securitization of receivables.

- Numerous privately-held companies: acquisitions, dispositions, entity formation, commercial transactions and services as general counsel.

- U.S. Bank National Association: multiple commercial loans.

- Middlemarket Capital Management: acquisition financings.

- Huron Capital Partners: acquisition financings.

- LaSalle Business Credit: counsel for multiple asset-based loans.

- American National Bank and Trust Company of Chicago: counsel for multiple commercial loans and issuances of letters of credit.

- LaSalle Bank National Association: counsel for multiple commercial and asset-based loans and issuances of letters of credit.

- Illinois Development Finance Authority: issuer's counsel for multiple bond issuances and counsel for direct loan and participation loan programs.

- Venture Holdings Company LLC: acquisition financing through commercial loans and issuance of bonds.

- Credit Acceptance Corporation; securitization of financial assets.

- North Coast Funding: liquidity facility for asset-base commercial paper.

Professional Associations

  • American Bar Association
  • Chicago Bar Association
  • Michigan State Bar Association
  • Practising Law Institute, Faculty Member


  • 1999-2003, Uniform Commercial Code Institute - "Revised Article 9 - Towards Perfection in Filing"
  • and Business Boot Camp, Security Agreements, Security Interests and Understanding Priorities, 2001, 2004 and 2006 (upcoming) Michigan Institute for Continuing Education - "Revised Article 9 of the UCC"
  • 10/29/2001, Equipment Leasing Association - "An Executive''s Guide to Revised Article 9"
  • Each year since 2000, Practising Law Institute - "What Every Lawyer Needs to Know About UCC Article 9"


  • 2004 - Chapter for Business Boot Camp Course Materials "Security Agreements, Perfecting Security Interests and Understanding Priorities", Michigan Institute for Continuing Legal Education
  • 2002 - The Michigan Business Law Journal v.22 no.1 "To Invest or Not to Invest? The Benefits and Risks of Equity Arrangements Between Law Firms and Their Clients", Business Law Section, State Bar of Michigan
  • 2001 - Intercounty Informer v.14 no.2 "Revised Article 9: Navigating the Transition", Intercounty Clearance Corporation
  • 2001 - NPRRA Record v.12 no.3 "Revised Article 9 - Q & A with Darrell Pierce", National Public Records Research Association
  • 2000 - Review of Banking & Financial Services v.16 no.4 "A Practical Guide to the New UCC Filing System", Standard & Poor's
  • 1998 - Uniform Commercial Code Law Journal v.31 no.1 "Revised Article 9 of the Uniform Commercial Code: Filing System Improvements and Their Rationale"
  • 1997 - The Secured Lender "Article 9 Filing Project; Subcommittees Work in Conjunction with Drafting Committee for a Better UCC Filing System", Commercial Finance Association
  • Illinois Law and Agribusiness, Chapter 2 "Secured Transactions", 2005 Supplement, Illinois Institute for Continuing Legal Education

WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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